November 2015 Business Outlook

NOV

Business outlook 2015

November 2015

Business Outlook

Deals Dashboard

check out our new program!

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our members announce

PRESIDENT’S MESSAGE Making a Difference

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INSIDE

succession planning 7 Tips Page 12 Joplin Area Chamber of Commerce | 320 East 4th Street | Joplin, MO 64801 | 417.624.4150 WWW.JOPLINCC.COM | FACEBOOK.COM/JOPLINCHAMBER | TWITTER.COM/JOPLINCHAMBER

PRESENTED BY

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November 2015

Business Outlook

Board of Directors 2015-2016 Executive Committee David Glenn

CHAIRMAN OF THE BOARD

Karen Plott

CHAIRMAN ELECT OF THE BOARD

Randy Moore

PAST CHAIRMAN OF THE BOARD

James Richards

TREASURER

Louise Secker VICE CHAIRMAN MEMBERSHIP/ COMMUNITY DEVELOPMENT SERVICES Kim Woodard CO-VICE CHAIRMAN MEMBERSHIP/COMMUNITY DEVELOPMENT SERVICES Clive Veri VICE CHAIRMAN ECONOMIC/WORKFORCE DEVELOPMENT SERVICES Lori Scott Dreiling CO-VICE CHAIRMAN ECONOMIC/WORKFORCE DEVELOPMENT SERVICES Directors Ex-Officio Directors Gina Atteberry Sam Anselm Michael Beatty John Bartosh Brad Beecher Mike Gray Brandon Davis Lindsey Hayes

Donovan Edwards Dr. Alan Marble

Jacqueline Hackett Dr. Jennifer Methvin Holly Hukill Matt Proctor Charles Keeter Dr. Norm Ridder Kelli Perigo Marilyn Ruestman Gary Pulsipher Michael Seibert Joplin Area Chamber of Commerce Staff Executive Rob O’Brian, CEcD PRESIDENT Tonya Sprenkle VICE PRESIDENT Lisa Kelly EXECUTIVE ASSISTANT Member Services Ginger LaMar, IOM Stephanie McGrew Martha Getz Cynthia Marlow

DIRECTOR OF MEMBER SERVICES & DEVELOPMENT MEMBER EVENTS PRODUCER MEMBER EXPERIENCE COORDINATOR MEMBER SUCCESS STRATEGIST

Communications & Finance Kirstie Smith COMMUNICATIONS DIRECTOR Wendy Brunner-Lewis COMMUNICATIONS COORDINATOR Cindy Weiss FINANCE DIRECTOR Samantha Doubledee FINANCE COORDINATOR Economic & Workforce Development Steve Russell NEWMAN INNOVATION CENTER DIRECTOR Kevin Welch

DIRECTOR OF BUSINESS ATTRACTION Cary Beasley, IOM WORKFORCE DEVELOPMENT MANAGER Mark Turnbull DIRECTOR OF REGIONAL STRATEGIES

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Administrative Support Lea Schroer NEWMAN INNOVATION CENTER ADMINISTRATIVE ASSISTANT Melissa Winslow ADMINISTRATIVE ASSISTANT

Sponsors Platinum Level

City of Joplin Downstream Casino Resort The Empire District Electric Company KOAM-TV/FOX 14 – KFJX Stronghold Data LLC

Chairman Level

AMI Radio Group Commerce Bank EaglePicher Technologies, LLC Freeman Health System General Mills Joplin Floor Designs Joplin Globe Publishing Company Joplin Regional Business Journal Joplin Supply Company KODE-TV/KSNF-TV Lamar Outdoor Advertising Lancaster Signs Mercy Hospital Joplin Missouri Southern State University Southwest Missouri Bank US Bank, N.A.

President Level

Arvest Bank BKD, LLP Community Bank & Trust (CBT) Roper Honda Show Me The Ozarks Magazine

Director Level

Choice Marketing Connell Insurance, Inc. Innovative Objects Lakeland Office Systems, Inc. Motive Matters Weed Whackers, Inc.

Joplin Area Chamber of Commerce 320 East 4th Street, Joplin, MO 64801 Phone: 417.624.4150 Fax: 417.624.4303 www.joplincc.com /joplinchamber /joplinchamber

PRESIDENT’S MESSAGE

November 2015

Business Outlook

Making a Difference How much do you think it takes to make a real difference in the life of one person? How about one family? Or how about 50,000 of our family members, friends and neighbors in Southwest Missouri and Southeast Kansas? The answer to that may surprise you. It’s $25 per person PER YEAR.

Rob O’Brian, President

Last year the United Way of Southwest Missouri and Southeast Kansas provided financial support to 36 partner agencies. These agencies, in turn, ran nearly 50 programs impacting the health, the learning and the social well-being of more than 50,350 people in our region. Last year the United Way had less than $1.3 million to support this work, or about $25 per person served.

Now, it’s true United Way does not supply all of the financial support for these 36 agencies. These agencies do a yeoman’s job of raising their own funding to support their programs. But these are organizations that exist to serve PEOPLE, not to raise money year-round. And here is why United Way is so important.

More than a century ago, United Way began in communities across the country with a simple message: When people pool their resources, they can accomplish great things for their communities. It was an extension of the foundation of this country; that people helped their friends and neighbors, in turn making their communities stronger. It was also the idea that those “who have” help those with needs, so they stay productive, engaged members of the community and are able to help others in need in the future.

United Way helps its 36 agencies by being that pooled resource. It takes some of the funding pressure off the individual agencies to allow them to provide the services needed by so many in our region. It helps those agencies fund their most successful programs and, likewise, also helps them try new approaches that may not fit within the typical budgets.

United Way supports youth development and leadership programs that have helped more than 4,000 children in our region. United Way-supported programs also help families that have children with disabilities such as cerebral palsy. The United Way helps its agencies support adults who need better reading skills to get or advance in a job as well as helping those whose view of the world is narrowed by low vision issues and blindness. United Way-supported agencies help people learn life skills and get a roof over their head so they can become self-sufficient and break the cycle of poverty.

There are also those times of emergency, when individuals and families who have a job, a roof over their head, good health and generally are “doing fine” suddenly find themselves without the physical and emotional resources to recover from tragedy. From a family’s house burning down to a large natural disaster to catastrophic illness, these agencies are able to help because of the support they receive from United Way. Nearly 11,000 of our friends and neighbors benefit from these safety net programs.

In addition, nearly 35,000 people benefit from health-related programs. Some of the programs promote overall wellness, while others benefit those with disabilities or substance abuse programs. There are programs that take people who can’t drive for medical care and others that make sure our fellow citizens still receive basic care even when they do not have the financial resources themselves.

So how much does it take? Needs are great and costs go up. You could pick about any number and the dollars are needed and would be well used. For $100, you can directly impact in a positive way the lives of 10 people. For $1,000, 100 of your family, neighbors and friends can have a better quality of living. Or for five bucks a week (think less than the cost of that drive-through lunch or one grande latte), you will help 25 people who need a hand-up.

When we support United Way, we support individuals and families, but we also support our community and region. We ensure we are helping those in need today and giving the next generation hope for a better life tomorrow.

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November 2015

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Business Outlook

2015-2016 Executive Committee

Presented by

Message to the Network from Chairman Nicole Brown Have you ever wondered what makes some individuals throw their hands up in defeat when faced with adversity while others seem to dig in and never give up? Angela Duckworth studied this phenomenon and credited the results to “grit.” She defines grit as possessing passion, perseverance and stamina. It means viewing obstacles as bumps in the road rather than road blocks.

Individuals with a high level of grit exhibit courage, commitment and resilience. I doubt anyone would argue that Joplin’s business leaders have grit. Our charge is teaching future leaders to face adversity with the same level of gusto and determination.

I believe grit can be nurtured, and as leaders, we must help. How? Challenge the young professionals in your employ to seek answers, frame failures as learning experiences and never let them give up. We have opportunities every day to help those around us learn and persevere. I challenge you to avoid giving easy

Nicole Brown, Chairman Brent Baker, Co-Chairman Lindsey Hayes, Past Chairman Shawn Daniel Jake Heisten Jennifer Little Ryan Melton Stephanie Onstot Greg Sutton Megan Tyler Christina Williams

November 2015

Business Outlook

YPN New Members Matt Doerr, BKD, LLP Joeseph (Joey) Henson, Sidecars, Inc. answers; instead, help the young professionals in your life find solutions for themselves.

In a world of instant gratification, it will take purposeful interventions to help the next generation develop grit. Test your “grittiness” at https://upenn.app. box.com/12itemgrit and then share it.

Our SW Missouri facility specializes in hardwood pallets providing standard 48x40 GMA and similar modified sizes CONTACT: Phil White

479-648-1225

phil@generalpallets.com

479-648-3013 fax

www.generalpallets.com

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Ribbon Cuttings

The Hive Business Center

Mo. American Water/The Alliance of SWMO

Walmart Neighborhood Market

Hope 4 You Breast Cancer Foundation

Sara Oliver, Owner 510 South Main Street Grand Opening

Matt Barnhart, Manager, Missouri American Water 303 East Third Street Ribbon Cutting, Check Presentation

Tom Taffner, Manager 2426 South Maiden Lane Grand Opening

Sharon Clark, President 2401 East 32nd Street Pink Ribbon Bagel Kick-off

Calendar of Events for November 2015

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November 3 9 am Leads Group One City of Joplin 5th Floor

November 11 9 am Leads Group Two Chamber Office

November 4 8 am Tomorrow’s Leaders Today Opening Retreat SMB Community Center 9 am Leads Group Three Chamber Office

November 17 9 am Leads Group One Roper KIA 5:30 pm Business After Hours Innovative Objects

November 6 7:30 am First Friday Coffee Freeman Health System

Ribbon provided by Countryside in the City

November 2015

Business Outlook

November 18 9 am Leads Group Three Chamber Office

November 18 11:30 am Cultural Affairs Committee Meeting Chamber Office November 24 2 pm Launch Pad Member Orientation Chamber Office November 25 9 am Leads Group Two Chamber Office November 26-27 Office Closed Thanksgiving Holiday

November 2015

Business Outlook Presented by

Joplin Area Habitat for Humanity

Freeman Health System

Scott Clayton, Executive Director 2319 South Moffet World Habitat Day/100th New Home Dedication

Paula Baker, CEO 932 East 34th Street Cornell-Beshore Cancer Institute

Mercy Hospital Joplin

Connell Insurance, Inc.

Gary Pulsipher, President 1717 South Range Line Road, Suite B New Location for Mercy Convenient Care

Tim Connell, President 4800 East 32nd Street New Joplin Location

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November 2015

Business Outlook

We Have Something NEW For You! Deals Dashboard is a new Members Only Program from the Joplin Area Chamber of Commerce designed to help member businesses reach other Chamber members and the public with their special offers, coupons and discounts.

Quick-start Guide   



Deals Dashboard is presented by 



Go to Joplincc.com/deals-dashboard You have three choices—Create a Deal, Find a Deal or Request Bids.

Anyone can Find a Deal—choose it and browse away. Remember, the Deals are between you and the business. No money is exchanged online.

To Create a Deal, login with your Members Only login and a simple form will walk you through the steps to create your deal. Forgot your login? Just click—we’ll send it to you.

To Request a Bid, let our members know what you need. The request form is simple and easy to understand. We will send the bid on your behalf to members in the categories you choose.

Need help? Call our office at 417.624.4150 and we will help you get your deals out there for Chamber members and the public to find!

Don’t look everywhere for deals, find them all on Deals Dashboard!

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Welcome New Members

Walmart Neighborhood Market #4478 Grocers/Drug Stores/Pharmacies 2426 South Maiden Lane Joplin, MO 64804 417.208.0561 www.walmart.com/store/4478 Tom Taffner, Store Manager Sponsor: Cynthia Marlow, JACC Phoenix Home Care Inc. Home Health Care Providers 1027 South Main Street, Suite 308 Joplin, MO 64801 417.680.4000 www.phoenixhomehc.com Machelle Farmer, Public Relations Manager Sponsor: Cynthia Marlow, JACC Ozarks Elder Law Attorneys 1801 West 32nd Street, Suite C-201 Joplin, MO 64804 417.622.4072 www.ozarkselderlaw.com Jessica Kruse, Attorney Rhonda Thornton, Office Manager Sponsor: Cynthia Marlow, JACC Mr. Electric of Jasper County Electrical Contractor 5900 Barbara Street Rogersville, MO 65742 417.886.3269 www.mrelectric.com/jasper-county Nathanael Toms, Owner Sponsor: Cynthia Marlow, JACC From Holly Hukill, VP, Joplin Floor Designs: Joplin Floor Designs is excited to be the sponsor of Deals Dashboard for the Joplin Area Chamber of Commerce! This is a unique opportunity for members to advertise their services and/or products to anyone who visits the Joplin Area Chamber of Commerce website. Best of all, it is free for all Chamber members. Where else can you get free Internet advertising for your business?

It is easy to create your ad on Deals Dashboard; it only takes a few minutes. As a Joplin Chamber board member, I encourage you to utilize every opportunity the Joplin Chamber gives you to network and advertise your business, including Deals Dashboard. As a business owner, I am looking forward to using Deals Dashboard to advertise our business, while we support our community’s ability to shop local!

Union Transfer & Storage Moving and Storage 1201 South Sergeant Avenue Joplin, MO 64801 417.623.7484 www.uniontransferjoplin.com Joshua Maresh, General Manager Jon Minor, Owner Sponsor: Cynthia Marlow, JACC

November 2015

Business Outlook

Southern Hospitality Bakery Bakery 1825 West 7th Street, Suite 6 Joplin, MO 64801 417.629.2224 Clinton Yeats, Owner Sponsors: Guy Voltz, Cell Phone Medics; Cynthia Marlow, JACC Davis CPA Group, LLC Accounting Services 3111 South Arizona Avenue Joplin, MO 64804 417.529.9871 Brandon Davis, Owner Sponsor: Cynthia Marlow, JACC Mattress by Appointment Mattress/Bedding Store 3929 East 7th Street, Suite H Joplin, MO 64801 336.287.1043 www.mattressbyappointment.com Kent Huff, Owner Sponsors: Doug Hunt, Doug Hunt Consulting; Cynthia Marlow, JACC Webcon, Inc. Roofing/Insulation 3602 East 13th Street Joplin, MO 64801 620.664.3198 www.webconroof.com Andrew Webster, Manager Sponsor: Curt Medlin, DataGraphics Printing The Chamber’s Board of Directors and staff are pleased to welcome our newest Chamber members. Please keep these and all members in mind when looking for goods and services. Visit the Chamber’s online member directory at cca.joplincc.com/businesssearch.aspx.

Invite your clients or vendors to join the Chamber.

Contact Cynthia Marlow at 417.624.4150 or cynthia@ joplincc.com.

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November 2015

Business Outlook

Our Members Announce presented by Don’t be left out in the cold. Check out the beautiful fireplaces Joplin Supply Company has to make your home feel warm and cozy. We have many different styles of fireplaces and settings to fit any room in your house. Visit Joplin Supply Company at 302 South Michigan and come in from the cold.

Teresa Hefley is a new real estate agent with Pro 100. She was property manager for Leggett & Platt for 10-plus years, managing all aspects of day-to-day operations of their properties. Contact Teresa at 417.437.9266 or email her at teresa@higdonhomes.com when you’re ready to make your next move.

Ozark Center, a part of Freeman Health System, recently earned accreditation for Health and Human Services from the Commission on Accreditation of Rehabilitation Facilities (CARF). CARF visited Ozark Center to evaluate how well services meet international standards of quality in behavioral health programs. For more information, go to www.freemanhealth.com.

Thanks to a generous gift from the Cornell-Beshore families, Freeman Health System Radiation Oncology recently opened at Freeman Hospital East to help patients with even the most difficult-to-treat tumors. Freeman’s newly acquired, top-of-class TrueBeam™ linear accelerator enables doctors to use a radically different approach to treating cancer with image-guided radiotherapy. For more information, go to www.freemanhealth.com.

The Molecular Analysis for Therapy Choice precision medicine trial is now available at Mercy Joplin and other regional hospitals. It’s part of Cancer Research of the Ozarks’ participation in ongoing National Cancer Institute studies.

For more information, go to www.mercy.net.

The United Way of Southwest Missouri/Southeast Kansas has 36 Little Blue Bookshelves in Joplin, Webb City, Carterville and Pittsburg and has distributed over 12,500 books since June 2014. Over 500 books a month are taken off the shelves by children in our communities. To continue putting books in the hands of children, United Way is seeking donations of new or gently used children’s books for ages birth-3rd grade. Books can be dropped off at the Joplin office at 3510 East 3rd Street or at the Pittsburg office at 117 West 4th Street. For more information, call 417.624.0153.

Pro Musica presents the Kavafian-Schub-Shifrin Trio November 12 at 7 p.m. at First Baptist Church, 633 South Pearl Avenue. Free; donations appreciated. For more 10 information, call 417.625.1822 or www.promusicajoplin.org.

The Missouri Southern State University Foundation’s Spirit of Philanthropy annual awards were given to John O. (Pat) and Carolyn Phelps, of Carthage, while the business award went to Roper Automotive Group of Joplin. For more information, go to www.mssu.edu.

Missouri Southern State University and two of its degree programs were recognized in Affordable Colleges Online’s 2015-16 rankings. In rankings for Best Online Colleges in Missouri, Missouri Southern came in at No. 1. Nationally, the university was ranked No. 33 in the Top 50 Most Affordable Online Colleges. Missouri Southern’s bachelor’s program in human resource management was ranked No. 8 in the Best Online Human Resource Degrees nationally.

The university’s accounting program was also ranked No. 11 in the Nation’s Best Online Accounting Degrees. For more information, go to www.mssu.edu.

At Uncommon Orthodontics, they provide you with excellent care from a qualified and experienced orthodontist. When you schedule an appointment with Dr. Jamie, you will be seeing a Board Certified Orthodontist, also called a Diplomate. Board certification is an exhaustive process based on the highest standards of orthodontic knowledge and skill. Only about 34 percent of all orthodontists are Board Certified. Want to know more?

Read their blog or call them at 417.625.1114 to schedule your free consultation!

TalentForce, an Employment Staffing Group company, announces the recipient of its Staffing Employee of the Year Award. Gissela Serrano, temporary staffing employee for TalentForce in Joplin, was presented with her award by Michelle Schopper, TalentForce Branch Manager. Gissela was selected from among multiple nominees for her work ethic, attitude and exemplification of the core values of TalentForce. For more information, call 417.553.2006.

Joplin Area Habitat for Humanity dedicated its 100th house built since the May 2011 tornado on World Habitat Day in October. For more information, go to www.joplinhabitat.org.

Wildcat Glades Conservation & Audubon Center is offering Native American Stories for Kids November 28 from 2-3 pm for kids 6 and older. Cost is $5 per person/Center members and $10 per person/non-Center members. These stories come from the first Americans: the Osage, Cherokee, Lakota and other Native People. Hear about the antics of coyote, the trickster, Grandmother Spider and many other special animals. Get up close to a few live animal guests! To register, call 417.781.6287 or email wildcatglades@audubon.org

windows/casement-venting-picture or visit the Distinctive Home Products showroom at 2211 East 7th Street.

Don’t miss the full schedule of classes for adults, preschoolers and kids at George A. Spiva Center for the Arts this month! Call 417.623.0183 for all the details.

National Research Corporation selected Premier Surgical Institute inpatient and outpatient hospital, located in Galena, Kansas, and serving the Four State Area, as a recipient of its 2015 Path to Excellence award. Recipients are chosen based on their achievement within categories that patients have identified as being most important to the quality of their care. For more information, call 1.877.394.5859.

Are you an insurance agent or financial counselor in the Joplin area who has been in the business for less than three years? If so, you can qualify for a free, one-year membership to National Association of Insurance and Financial Advisors of Southwest Missouri (NAIFA-SW). NAIFA is your professional association, and its focus is to help protect your business, help you grow your business and promote ethical business conduct. Visit www.naifa.org and contact Sheila Kersey for details: 417.623.4636.

The Ozark Gateway Association of REALTORS® is participating in the Missouri REALTORS® Leadership Launch program. Introducing REALTORS® to leadership opportunities and training at the local level will not only provide education and knowledge of community issues, but also prepare them for leadership opportunities locally.

Graduates of the state’s Leadership Academy have gone on to serve as leaders at the local, state and national level. This new program will serve as a stepping stone to the state’s program by introducing REALTORS® to leadership training.

For more information, call 417.659.7509.

Club 1201 announces the opening of the Williams Event Center, 1201 East 32nd Street. It is connected to Club 1201, and expands the total seating capacity to 250. It can be reserved to host special events and private parties. Also, Uncorked is open from 3-10 pm Friday and Saturday nights.

For more information, call 417.626.0032.

The Marvin Venting Picture window, exclusive to Marvin and available from Distinctive Home Products, is a beautiful way to bring natural light into a room or to highlight a beautifully expansive and unobstructed outdoor view. And now, it can also be a source of fresh air. Marvin’s Ultimate Venting Picture window is designed with a patented hidden screen system, allowing it to open evenly on all sides for passive air exchange. Learn more at www.marvin.com/marvin/

The KOHLER Prolific sink’s ergonomic shape is created from 18-gauge stainless steel welded to form multiple levels within the sink. The levels support the sink’s accessories; letting you place each one at the height you need and move it from side to side as you’re working. When you’re done, you can either stack them off to the side or remove them from the sink completely. Learn more at www.us.kohler. com/us/Prolific%E2%84%A2-Stainless-Steel-Kitchen-Sink/ content/CNT113400014.htm or visit the Distinctive Home Products showroom at 2211 East 7th Street.

November 2015

Business Outlook

The new park under construction at 26th and McClelland hasn’t been named, so the City of Joplin has launched a public park naming contest. Citizens can submit two options and should include them for consideration and a brief description of why the name is appropriate for the park.

Entry cards are available at the Joplin Athletic Complex, main lobby of Joplin City Hall and the Reference Desk of Joplin Public Library. Submissions should be delivered or mailed to Joplin Park Naming Contest, Attn: Planning, 4th Floor, Joplin City Hall, 602 South Main, Joplin, MO, 64801.

Citizens can also email the entry to parknaming@joplinmo. org or call 417.624.0820, ext. 541. All entries are due by 5 p.m. November 9.

Ortho Four States Physical Therapy and Aquatic Rehabilitation announces a new Kansas state law enables all its patients, regardless of state residence, to receive physical therapy treatment without needing a referral from a physician or other healthcare provider. For more information, go to www.Ortho4States.com.

Good Finds Thrift Store has new hours. They’re open Monday-Friday 10 am-6 pm and Saturday 10 am-4 pm.

Good Finds is located at 706 South Main Street. For more information, call 417.623.2200.

M&M Bistro has a beautiful meeting and banquet area for your events, meetings, parties, birthday parties or receptions with seating for up to 120 people. Catering services and delivery available for meeting and events.

M&M Bistro will customize the menu for your meeting or event, and you may choose from their wide menu selections at www.facebook.com/mmbistro.llc. Call 417.627.9996 or stop by M&M Bistro at 4th and Main.

The Chamber is interested in your business. If you won an award, opened another office or are planning an event, let us know. We want to share your accomplishments and events with your fellow members! For our next issue, submit your announcement to wendy@joplincc.com by November 10. Please include “Our Members Announce” in the email subject line. Find all our members in our online Membership Directory.

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November 2015

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Business Outlook

7 Tips for Business Succession Planning

By Karen Bradshaw, Director of the Center for Entrepreneurship, MSSU

Business succession planning should be a part of every company’s strategic plan and vision of where the company will be headed in the future. Understanding the importance of accurate financial records and documented business methods is of great concern when exploring business succession issues.

According to the Pew Research Center, about 10,000 Baby Boomers will turn 65 each day for the next 19 years.

It’s estimated that about 70 percent of current Baby Boomer business owners may leave their firms by 2020.

The Family Business Institute estimates 88 percent of current family business owners believe the same family will control their business in five years. However, succession statistics estimate that only about 30 percent of family-owned businesses survive into the second generation of ownership.

Business owners may choose to sell their company, have a family member assume ownership or just close the business and liquidate their assets. It may take 3 to 5 years of preparation in order to sell your business or pass the ownership on to a family member.

You also need to consider your financial goals and the retirement income you may want to have from the business. Are you going to sell the business outright and be paid a lump sum? Do you expect to receive income from the business during future years?

Following are some tips to consider when beginning the process of succession planning.

1. Form a succession planning team of experts. Select experts who will provide you with accurate and timely advice. An accountant will be able to provide guidance with tax and estate planning. An attorney can prepare contracts such as a buy/sell agreement. A financial planner who is an expert in retirement planning will be useful.

A real estate agent or business broker can provide asset valuation advice. Your banker can provide direction.

2. Establish goals and objectives. Identify the vision and goals of the business. Determine the importance of continued family leadership and ownership of the company. Identify goals of the next generation of management and how the company will transition.

3. Consider generational differences between the family members. Recognize family members’ values, goals, issues and emotional attachments. Family communication issues can be difficult, so plan to discuss

well in advance any scheduled sale and financing options.

4. Plan for the successor’s development and preparation for taking over the company. Beneficial training can include requiring the successor to have 3 to 5 years of work experience outside the family business, coaching by trusted mentors, additional business education, and cross-training and skill development in all functional areas of the company. Does your industry require any special certifications, and does the potential business owner have those certifications?

5. Develop documents for succession planning.

Carefully start preparing and have in writing agreements such as contracts, strategic plans, employee agreements, partnership agreements, intellectual property, process manuals, inventory detail, customer lists, loans, titles, leases and other legal documents. Have good financial statements and tax returns.

6. Demonstrate business development and profitability. Create value in your business. You will need to invest in the business to build value by working to maximize cash flow and profitability. Consider whether you have a business someone wants to purchase, or your family would want to continue operating or purchase. Is there an upward growth trend in sales and profits? Is the company marketing focused on defined target markets?

Do the financial statements of the company indicate increased profitability?

7. How will the business be valued? Consider the seller’s, buyer’s and financier’s perspectives. Business valuation can be based on the value of company assets, the value of historical earnings, the desired rate of return or by many other methods.

Remember, good business succession planning requires careful consideration of your family needs, customer desires, competitive environment and future trends in your industry.

2015-2016 Tomorrow’s Leaders Today Class Chosen from Among Area High School Students The following 43 high school seniors were selected to participate in this year’s Tomorrow’s Leaders Today program through the Joplin Area Chamber of Commerce. Eighty-one students applied for this leadership program, which guides students through various aspects of business and community leadership training.

Tomorrow’s Leaders Today is in its 22nd year of introducing future leaders to the community. The class was chosen based on their responses to written applications and personal interviews, and represents eight area high schools. Tomorrow’s Leaders Today sessions run from November through April.

The presenting sponsors of the TLT program are Carl Junction High School Joey Dankelson Spencer Dawson Dallas Elliston Sevie Kinzer Jessica Plott Erin Psajdl Rebecca Wilson Carthage High School Clare Bartlett-Alvey Anna Brightwell Abby Burken Brandon Chapman Natalie Gilliam Samantha Hutchins Janelle Lanham Hadley Lyon Darci Musser Emma Pound College Heights Christian School Brady Bishop Chloe Blaylock Chloe Brewer Abigail Hardy Hunter Jones Caroline Miller Paul Sherrod

November 2015

Business Outlook

and Diamond High School Dylan Myers Joplin High School Anum Ahmed Anna Blue Audrey Kanan Amy Koch Matt McMullen Stella Ndauwa Jennifer Nguyen Molly Ritter Emma Thompson Berenice Urbina-Maturino Vivian Vu McAuley High School Dominique Paje Bailey Welch Thomas Jefferson Independent Day School Marisa Donica Webb City High School Madison Buzzard Rachel Goldin Janae Robinson Austin Simpson

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November 2015

Business Outlook

NOMINATIONS ARE IN! C HECK

S EPT. 28 E DITION OF H ONOREES

OUT THE

FOR

L IST

Insurance you can design to meet your ever-changing needs.

• Business or Commercial • Call for a Farmers Friendly Review® • Evening Appointments

LINDA TEETER, LUTCF www.farmersagent.com/lteeter 1321 ILLINOIS AVE • JOPLIN, MO 64801

REGIONAL

MEN OF DISTINCTION

Call 417-781-4820 today for Auto, Home, Life and Business.

Audio / Video Systems Pro Audio Equipment Camera Systems Healthcare Communications

E VENT: N OV. 12

M ISSOURI S OUTHERN S TATE U NIVERSITY C ONNOR B ALLROOM T ICKETS: $40 C ALL JRBJ @ 417-625-6699

Elite Commercial Audio/Video Sales & Service Toll Free: 800-621-5256 Local: 417-869-0770 aaius.com proaudiosuperstore.com 2120 S. Roosevelt Suite 3 Joplin, MO 64804

Providing Hope to Cancer Patients Through Pinpoint Treatment of Hard-to-Reach Tumors

TRUEBEAM™ LINEAR ACCELERATOR • Advanced treatment option for cancer patients • Targets cancer cells while minimizing damage to surrounding tissue • Ability to tailor radiation beam to exact shape of tumor • Top-of-class technology PATIENT BENEFITS • Less time spent in treatment • Exposed to lower dose of radiation • Improved outcomes through precise treatment

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Radiation Oncology

THANK YOU FOR RENEWING

Lozier Corporation........................................................ 1997

Abbey Title Company................................................... 1994 THANK YOU FOR RENEWING

McVay Affordable Pest Control................................. 2011

ACCESS Family Care..................................................... 2003

Mercy Hospital Joplin.................................................. 1951

Aldi...................................................................................... 2011

Missouri and Northern Arkansas Railroad............1988 2001 Acme Brick Company..................................................

Connell Insurance, Inc................................................. 2014

MJSystems, Surveying, LLC.........................................................1983 2013 Ad Inc..............................................................

Countryside in the City............................................... 2008

Michael J. Patterson, D.D.S.........................................1981 2005 ADC Dental Group.........................................................

Covert Electric Supply, Inc......................................... 1993

TheAlburty Payroll Company.

Company.................................................. .................................................1973 2006 Ray

Creative Glass................................................................. 1997

Payroll Vault the Four States.................................2008 2013 Alert One PestofControl, Inc........................................

Comeau Jewelry Company....................................... 2008

PersonalMartin Finance Company.......................................

2013 Allgeier, and Associates, Inc........................ 1955

Community Clinic......................................................... 2005

Petsway.............................................................................

2013 American Construction............................................... 1996

Choice Marketing ......................................................... 2003

Prayerful LLC................................................2001 2009 AMI RadioPortions, Group...........................................................

CMC Recycling............................................................... 2002

ProjectFrozen 10 Challenge with Vi-Jill Tatum................2012 2013 Andy’s Custard.................................................

Brunner Fabrication...................................................... 2002

RamseyBaking, MediaWorks, L.L.C.........................................1952 2002 Annie’s LLC.......................................................

Cardinal Detecto Mfg................................................... 2002

Rib Crib. .............................................................................

2003 Area Agency on Aging................................................. 1990

Big John’s Heavy Equipment..................................... 2002

Roof Power SolarInc.. ..........................................................

2014 Audio Acoustics, ................................................... 1986

The Arc of the Ozarks.................................................. 2008

Roper Buick Inc..

GMC. ..........................................................1967 1952 Autotronics, ............................................................

Associates of Dental Arts............................................ 2008

RotaryDavis of Joplin - Daybreak ...........................1955 2001 Baker Roderique, CPAs,Club.

PC . ...........................

Associates of Dentistry, Charles McGinty............. 1986

Santa Fe Tow Service. ...................................................

2008 Beimdiek Insurance Agency, Inc.............................. 1988

Dr. Fly’s Salon.................................................................. 2008

Schmidt Associates, PC...............................................2009 2014 Bicycle Specialists, LLC................................................

Economic Security Corporation............................... 1990

SkyBrothers Ranch Cave Springs..............................................

2008 Big Big Sisters of the Ozarks.................... 1997

Family Pharmacy........................................................... 2002

Soroptimist International of Joplin.........................1962 2001 BKD, LLP............................................................................

Federal Protection, Inc................................................. 1999

SpringfieldRobertson, Blue Print and Photo Copy Co.,PC...

Inc..2008 Blanchard, Mitchell and Carter, 1974

The Fireplace Shoppe................................................... 2002

Springfield Engineering Company..........................

2001 Boy Scouts of America, Ozark Trails Council....... 1994

First Missouri Insurance Agency.............................. 2006

Superior.............................................................................

Finance Company.......................................1989 2012 Braum’s

Food 4 Less...................................................................... 1992

Tropicana Bar andMaintenance...............................

Grill................................................1993 2007 Briteway Building

GalaxSea Cruises and Tours....................................... 2002

Twin Hills Golf and Country Club............................ 1966

The Glenn Group at Keller Williams Realty.......... 1985

U S Bank, N.A................................................................... 1951

Good Vibrations............................................................. 2007

Vaughn Companies, LLC............................................. 2014

Goodwill Industries....................................................... 1996

Vemma/Global Pro System........................................ 2013

Stephen H. Holt, Jasper County Collector............ 2002

Wal-Mart, Inc. of Joplin #59...................................... 1972

Joplin Rental Center, LLC............................................ 2008

Wal-Mart, Inc. of Joplin #79...................................... 1972

Joplin Venetian Blind, Inc........................................... 1997

Wild About Water!......................................................... 2009

KAB Electric, Inc............................................................. 2012

Wildcat Glades Conservation & Audubon Ctr..... 2002

Ralph King Body and Frame....................................... 1990

WTI - Joplin Campus................................................... 2004

Layne Electric Company, Inc..................................... 2002

Z 1-2 Call for Service .................................................... 2006

November 2015

Business Outlook

STATE OF THE LOCAL ECONOMY: A REPORT FROM YOUR CHAMBER

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November 2015

Business Outlook

NEW MEMBER BENEFIT

BillTrack 50 is a free service provided on Joplincc.com. BillTrack 50 allows you to easily see what is happening in state and federal politics. The tool shows current legislation that may be important to your small business. Some details about the bill are shown, but if you need to learn more, simply click and you will be able to read the full bill, learn who sponsored the bill and more.

Are you looking for legislation not featured on the website widget? Just create a free account on BillTrack50.com and you'll be able to search for bills covering any topic that interests you. The widget will show federal legislation, and when in session, Missouri, Oklahoma and Kansas legislation. The topics featured will be relevant to Chamber membership and will change as appropriate.

To see the widget, go to Joplincc.com/government-and-regulations/ or scan the QR code below.

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Business EXPO 2016 Tuesday, January 19, 2016 Noon-8 p.m. Exhibitor Showcase 5-8 p.m. Business EXPO After Hours (Adults Only) 4Cash Bar 4Great “Tastes” from member restaurants 4Silent Auction open for bids until 7:10 p.m.

4Live Auction begins at 7:15 p.m.

Open to the business community only. Business card acts as admission ticket.

Wednesday, January 20, 2016

10 a.m.-6 p.m.

Exhibitor Showcase Open to the Public

$5 Admission; Children 5 & Under Free

Grand prize trip will be drawn for a

water sports vacation package

sponsored by

November 2015

Business Outlook

Joplin Convention & Trade Center www.joplincc.com

B2B │Networking │Silent & Live Auction │Business After Hours │Contests │Opportunities │Sponsorships

Each year during EXPO Business After Hours, we host an incredible live and silent auction to raise funds for the JACC Foundation that provides education and professional development through programs such as Leadership Joplin, Tomorrow’s Leaders Today and the Young Professionals Network.

WHAT’S IN IT FOR YOU? • • • •

Your company name listed on joplincc.com Your company name listed on the bid sheet Your company name and item listed on auction flyer Display of your item at the event

Contact Stephanie McGrew at smcgrew@joplincc. com or 417.624.4150 to donate an item today!

We dream BIG at JACC, so we’ve set our goal for 2016 to be the BIGGEST auction in EXPO history, and we’re going to need help. We have started gathering donations for the auction, and we are looking for businesses and organizations to partner with who can provide us with items to help us meet our goal. We are looking for items of all price ranges, small to large, in order to provide things that will appeal to all demographics. However, our auction team has provided a “wish list” of items that were a proven success in the past, and we would love to see these items be the talk of the auction. Think BIG with us!

COST: $200

QUANTITY: 1,000

EXPO BAGS PROMOTIONAL FLYER Would you like to guarantee 1,000 attendees have your information in their hands as soon as they walk through the front door? You can by including your items in the EXPO bags that are given to all attendees during Business EXPO After Hours! If you are an exhibitor at Business EXPO, this is another great way to promote yourself to attendees and drive traffic to your booth by offering a coupon for a special promotional item if they show you the flyer. For non-exhibitors, this is a great way to still participate in EXPO and get your brand in front of EXPO attendees.

• Pre-printed flyer showcasing your business (no larger than 8.5” x 11”) • Unique giveaways or product samples • A coupon to drive traffic to your front door or website To take advantage of this great opportunity, • New marketing piece to start the new year contact Martha Getz at 417.624.4150 or email • Calendars or planners mgetz@joplincc.com.

• Promotional piece inviting attendees to find you on social media

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November 2015

Business Outlook From the thinkhr.com blog:

Ask the Experts: Resignation and Sick Pay Question: We have a problem with employees resigning and using up all sick and vacation time accrued during their final weeks of employment. Is there anything that we can do to better manage this behavior?

Answer: After resigning, some employees may attempt to take advantage of available time off, particularly if the employee is ineligible to “cash out” that time he or she has earned. While a conscientious employee may spend his or her last weeks closing up or transitioning projects, an unhappy employee may simply end the work experience by burning up that time off. This is where good management and carefully crafted policies can help.

You can better manage employee exits from the company if your company culture and management practices support clear communications around work expectations and company policies about how paid time off is managed. This includes how time off during the notice period should be managed. When the front-line supervisor and terminating employee are aligned on what is expected through the remainder of the notice period and the company policies outline the behaviors required, it’s a recipe for success and harmony in the workplace.

To better manage this behavior, consider a written response from your HR manager, direct supervisor, or company president in response to any resignations received. For example: “The company received your resignation notice, and I would like to extend my appreciation for your service and wish you success in your future endeavors. We personally look forward to your continued dedication to ensure that your final days with us are used to properly close up and transition your workload through partnering with management to create a seamless transition for your departure.

With this expectation and your adherence to our company rules, we accept your resignation and acknowledge that your final date of employment with [company name] will be xx/xx/xx.”

There are no state or federal laws requiring private employers to extend paid vacation time to employees. Therefore, employers are generally free to adopt whatever vacation policies they deem appropriate, provided they do not conflict with state employment laws (for example, payout upon termination requirements including prohibition of “use it or lose it” policies, special accrual methods, or nondiscrimination practices). Accordingly, employers may want to consider changes to their vacation policy to minimize the practice of employees exhausting their accrued leave during the resignation period. One consideration is a pre-authorization requirement that requires an employee to receive approval in advance of any vacation time taken before the leave is considered as payable. In this scenario, the company can also use language such as “The Company may permit consideration of such time without approval under extenuating circumstances on a case by case basis.” Another consideration is policy language such as “During a resignation period, no paid leave will be considered or provided unless authorization was established in writing with the employee’s direct manager and or human resources in advance of any time taken.” Employers should consult counsel to ensure such restrictions on use do not violate state law.

When addressing sick time, an employer should review regulations in the state where the employee works for any specific paid sick leave laws prohibiting the denial of a sick leave request when the first allocation of time under the law has not been exhausted (for example 40 hours in Massachusetts and 24 hours in California) before applying the same practice as mentioned above. A company may also state a requirement of medical certification for any paid leave taken during the resignation period (unless otherwise stated by state-specific rules).

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When permissible under state paid sick leave laws, application of these additions to your policies and practices may minimize the amount of time a worker is absent with expectation of pay during the final workdays. When considering pay and policy changes, it is always a best practice to review your policies and application of the law with employment counsel prior to taking any employment-related action.

Small Business & Technology Development Center Missouri Southern State University The Robert W. Plaster School of Business

November 2015

Business Outlook

3950 Newman Road, Joplin, MO 64801-1512 Phone: 417.625.3128 Fax: 417.625.9782

MICROSOFT EXCEL LEVEL 2 Nov. 3 (Tuesday), 1:30-4:30 p.m. (Day 1) Nov. 5 (Thursday), 1:30-4:30 p.m. (Day 2) Location: Plaster Hall, Room 320, MSSU Cost: $124/person WHERE WILL YOUR BUSINESS BE IN 2018?

Nov. 6 (Friday), 1:30-4:30 pm Location: Plaster Hall, Room 107, MSSU Cost: $59/person PREDICTING CASH NEEDS Nov. 10 (Tuesday), 1:30-4:30 pm Location: Plaster Hall, Room 108, MSSU Cost: $69

VETERAN-OWNED SMALL BUSINESS ROUNDTABLE Nov. 12 (Thursday), 6-8 pm Location: Joplin Area Chamber of Commerce Cost: Free to Amercian veterans and active-duty military INFUSING YOUR BUSINESS WITH PERSONALITY AND PURPOSE Nov. 19 (Thursday), 9:30-10:45 am Location: Plaster Hall, Cornell Auditorium, MSSU Cost: $10/person Find the full schedule of workshops at www.mssutraining.com.

Leadership Joplin 2016 – Engaging Future Community Leaders Now Taking Applications The Leadership Joplin program provides a foundation for participants to expand their current leadership roles in the community. During the six-month course, class members develop a broad appreciation of our unique quality of life as well as an understanding of the complex opportunities they face as stewards of the community. Do you aspire to become an outstanding leader? Are you interested in cultivating productive professional relationships and a professional presence? Then LJ 2016 is the program for you!

Begins in January | 12 Sessions | Concludes in June | Motive Matters Color Code Training LJ applications and details are available at www.joplincc.com. Deadline for registration is November 20, and class size is limited, so don’t delay!

The Leadership Joplin program was awarded the Programs & Campaigns Award of Excellence at the 2015 Chamber of Commerce Executives of Missouri (CCEM).

This will be our 33rd year with more than 825 community leaders graduating from the program.

For questions, contact Ginger LaMar at 417.624.4150 or glamar@joplincc.com.

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November 2015

Business Outlook

First Friday Coffee

Good Morning Joplin Tuesday, December 8 7:15-9 a.m.

Friday, November 6 7:30-8:30 a.m.

Presented by

Sponsored by and located at Freeman Health System 1102 West 32nd Street 1st Floor Conference Center RSVP by November 4 at www.joplincc.com or 417.624.1996.

Sponsored by

7:15 a.m. - Breakfast | $12 at the door or if invoiced 7:30 a.m. - Program | $10 if prepaid online only Located at Butcher’s Block Event Center 499 West Fountain Road Presented by RSVP by December 4 at www.joplincc.com or 417.624.1996

Business After Hours

THANK YOU!

Presenting Sponsor

Tuesday, November 17 5:30-7 p.m.

Sponsored by and located at Innovative Objects 2340 South Range Line Road

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RSVP by November 13 at www.joplincc.com or 417.624.1996.

US Bank, N.A., Chairman Sponsor, for helping us communicate with our members!